Sawgrass Asset Management LLC lessened its holdings in The Coca-Cola Co (NYSE:KO) by 2.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 692,679 shares of the company’s stock after selling 17,005 shares during the period. The Coca-Cola comprises approximately 1.7% of Sawgrass Asset Management LLC’s portfolio, making the stock its 29th biggest position. Sawgrass Asset Management LLC’s holdings in The Coca-Cola were worth $32,798,000 at the end of the most recent quarter.
Several other institutional investors have also modified their holdings of the company. Pegasus Partners Ltd. boosted its position in shares of The Coca-Cola by 6.6% in the fourth quarter. Pegasus Partners Ltd. now owns 14,456 shares of the company’s stock worth $684,000 after buying an additional 900 shares during the period. Good Life Advisors LLC boosted its position in shares of The Coca-Cola by 32.3% in the fourth quarter. Good Life Advisors LLC now owns 15,159 shares of the company’s stock worth $718,000 after buying an additional 3,704 shares during the period. Beacon Pointe Advisors LLC acquired a new stake in shares of The Coca-Cola in the fourth quarter worth $230,000. Beacon Pointe Wealth Advisors LLC acquired a new stake in shares of The Coca-Cola in the fourth quarter worth $300,000. Finally, Veritas Investment Management LLP boosted its position in shares of The Coca-Cola by 22.9% in the fourth quarter. Veritas Investment Management LLP now owns 3,686 shares of the company’s stock worth $174,000 after buying an additional 686 shares during the period. 65.78% of the stock is owned by institutional investors and hedge funds.
Shares of NYSE:KO opened at $45.34 on Friday. The Coca-Cola Co has a fifty-two week low of $41.45 and a fifty-two week high of $50.84. The stock has a market capitalization of $193.61 billion, a price-to-earnings ratio of 21.80, a P/E/G ratio of 3.05 and a beta of 0.53. The company has a quick ratio of 0.95, a current ratio of 1.05 and a debt-to-equity ratio of 1.33.
The Coca-Cola (NYSE:KO) last announced its quarterly earnings results on Thursday, February 14th. The company reported $0.43 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.43. The Coca-Cola had a return on equity of 43.91% and a net margin of 20.20%. The company had revenue of $7.10 billion during the quarter, compared to analysts’ expectations of $7.07 billion. During the same quarter in the previous year, the firm earned $0.39 earnings per share. The business’s quarterly revenue was down 5.5% compared to the same quarter last year. As a group, analysts predict that The Coca-Cola Co will post 2.09 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, April 1st. Shareholders of record on Friday, March 15th will be given a $0.40 dividend. The ex-dividend date of this dividend is Thursday, March 14th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.53%. This is a boost from The Coca-Cola’s previous quarterly dividend of $0.39. The Coca-Cola’s payout ratio is currently 75.00%.
Several analysts have recently commented on the company. Zacks Investment Research cut The Coca-Cola from a “hold” rating to a “sell” rating in a research report on Friday, February 22nd. Morgan Stanley set a $48.00 price objective on The Coca-Cola and gave the company a “hold” rating in a research report on Friday, February 15th. ValuEngine cut The Coca-Cola from a “buy” rating to a “hold” rating in a research report on Friday, February 15th. UBS Group reissued a “neutral” rating and set a $50.00 price objective on shares of The Coca-Cola in a research report on Friday, February 15th. Finally, Citigroup cut The Coca-Cola from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $56.00 to $50.00 in a research report on Thursday, February 14th. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and eight have issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $51.63.
In other The Coca-Cola news, SVP Beatriz R. Perez sold 10,000 shares of the business’s stock in a transaction dated Friday, February 1st. The stock was sold at an average price of $48.50, for a total value of $485,000.00. Following the completion of the sale, the senior vice president now owns 92,645 shares of the company’s stock, valued at $4,493,282.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Beatriz R. Perez sold 21,742 shares of the business’s stock in a transaction dated Monday, February 4th. The stock was sold at an average price of $48.76, for a total value of $1,060,139.92. Following the completion of the sale, the insider now directly owns 92,645 shares of the company’s stock, valued at approximately $4,517,370.20. The disclosure for this sale can be found here. 1.48% of the stock is owned by insiders.
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About The Coca-Cola
The Coca-Cola Company, a beverage company, manufactures and distributes various nonalcoholic beverages worldwide. The company provides water, enhanced water, and sports drinks; juices; juice, dairy, and plantbased beverages; teas and coffees; and energy drinks. It also offers concentrates, syrups, beverage bases, source waters, and powders/minerals, as well as fountain syrups to fountain retailers, such as restaurants and convenience stores.
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